According to Bloomberg, Liao Yixian, the co-founder of U.S.-based Super Micro Computer, appeared in court in Manhattan, New York, on Wednesday and pleaded not guilty to charges of assisting in the illegal transfer of billions of dollars worth of servers equipped with Nvidia's high-end chips to China. According to the indictment, Liao is accused of participating in circumventing U.S. export controls by selling and shipping servers to Chinese clients through improper channels. Also charged in the same case are Chang Jui-tsang, former general manager of Super Micro Computer's Taiwan office, and Sun Ting-wei, an external contractor. The case is seen as a significant enforcement action by the United States against the alleged smuggling of restricted artificial intelligence technology to China. Super Micro Computer's stock price plummeted after the charges were disclosed, with its market value evaporating by more than $6 billion in a short period. Liao has resigned from his position on the board of directors. The judge set the trial date for November 2.